UNIKL MIMET

LGB20203
MANAGEMENT ACCOUNTING AND FINANCE

ASSIGNMENT 1

DOUBLE ENTRY AND TRAIL BALANCE

Semester Jan 2018

NO. NAME ID NUMBER

1 MUHAMMAD EZAT EMIR BIN RAMLI 56212217086
2 ABDUL HAZIQ BIN BASARUDDIN 56212217070
3 ALIF AKMAL BIN MOHD HASHIM 56212217069
4 MOHAMAD ALIF RIZUWAN BIN MOHD RASID 56212217017
5 MOHD FIRDAUS BIN ABDUL GHANI 56212217054
6 AZIRUL HAFIZ BIN MOH AIRUL 56212217025
Fateeh started a surf and swimming cloth business on 1 January 2018. The following is a list
of his transactions for the first month of trading:

1.1.18 - Bank in RM50,000 into business as capital.

1.1.18 - Director of the company bring in car valued at RM20,000 into business as capital.
1.1.18 - Pay rental deposit RM500 and another RM500 for January rental by cheque.
1.1.18 - Spend RM2,000 for shop renovation by cheque.
2.1.18 - Purchase company insurance/takaful for RM1,000 by cheque.
2.1.18 - Purchase office equipment for RM10,000 by cheque.
2.1.18 - Purchase computer for RM3,000 by cheque.
3.1.18 - Purchase goods on credit from Koperasi BMO RM12,000.
3.1.18 - Purchase goods from Koperasi MIMET RM2,000 by cheque.
3.1.18 - Borrow RM5,000 cash from director of the company.
3.1.18 - Spend on office sundry expenses RM2,000 by cash.
5.1.18 - Sales to MD Sdn Bhd amounted RM1,000 by cash.
5.1.18 - Weekly sales cash collection amounted RM1,500.
7.1.18 - Sales to MD Sdn Bhd amounted RM3,000 by credit.
22.1.18 - Pay RM2,000 cash to director of the company.
28.1.18 - Pay RM2,000 cash to director of the company.
30.1.18 - Received payment from MD Sdn Bhd RM1,500.
30.1.18 – Received RM150 cash as other income.
30.1.18 - Pay utility expenses amounted RM1,500 by cheque.
30.1.18 - Pay salary amounted RM1,100 by cheque.

Additional information:

i) Staff commission still outstanding by RM400.

ii) Half of the utility paid is a portion for the next month.
iii) Depreciation charge on office equipment is 1%, computer is 2% per month.
iv) Provided provision for doubtful debts 10% from Trade debtor balance.
 T ACCOUNT FOR FATEEH

Bank
Date RM Date RM
1.1.2018 Capital 50,000 1.1.2018 Rental 1,000
renovation 2,000
2.1.2018 Insurance 1,000
Equipment 10,000
Computer 3,000
3.1.2018 Purchase 2,000
30.1.2018 Utility expenses 1,500
Salary 1,100
31.1.2018 Balance c/d 28,400

50,000 50,000
1.2.2018 Balance b/d 28,400

Capital
Date RM Date RM
31.1.2018 Balance c/d 70,000 1.1.2018 Bank 50,000
Vehicle 20,000

70,000 70,000
1.2.2018 Balance b/d 70,000

Vehicle
Date RM Date RM
1.1.2018 Capital 20,000 31.1.2018 Balance c/d 20,000

20,000 20,000
1.2.2018 Balance b/d 20,000

Rental
Date RM Date RM
1.1.2018 Bank 1,000 31.1.2018 Balance c/d 1,000

1,000 1,000
1.2.2018 Balance b/d 1,000
 Renovation
Date RM Date RM
1.1.2018 Bank 2,000 31.1.2018 Balance c/d 2,000

2,000 2,000
1.2.2018 Balance b/d 2,000

Insurance
Date RM Date RM
2.1.2018 Bank 1,000 31.1.2018 Balance c/d 1,000

1,000 1,000
1.2.2018 Balance b/d 1,000

Equipment
Date RM Date RM
2.1.2018 Bank 10,000 31.1.2018 Depreciation Equipment 100
Balance c/d 9,900

10,000 10,000
1.2.2018 Balance b/d 9,900

Computer
Date RM Date RM
2.1.2018 Bank 3,000 31.1.2018 Depreciation computer 60
Balance c/d 2,940

3,000 3,000
1.2.2018 Balance b/d 2,940

Purchase
Date RM Date RM
3.1.2018 Koperasi BMO 12,000 31.1.2018 Balance c/d 14,000
Bank 2,000

14,000 14,000
1.2.2018 Balance b/d 14,000
 Koperasi BMO (creditor)
Date RM Date RM
31.1.201 12,00 12,00
8 Balance c/d 0 3.1.2018 Purchase 0

12,00 12,00
0 0
12,00
1.2.2018 Balance b/d 0

Cash
Date RM Date RM
3.1.2018 Other creditor 5,000 3.1.2018 Office sundry expenses 2,000
22.1.201
5.1.2018 Sales 1,000 8 Other creditor 2,000
28.1.201
Sales 1,500 8 Other creditor 2,000
30.1.201 31.1.201
8 MD Sdn Bhd 1,500 8 Balance c/d 3,150
Other income 150

9,150 9,150
1.2.2018 Balance b/d 3,150

Office sundry expenses

Date RM Date RM
31.1.201
3.1.2018 Cash 2,000 8 Balance c/d 2,000

2,000 2,000
1.2.2018 Balance b/d 2,000

Other creditor (owning to director)

Date RM Date RM
22.1.201 3.1.2017
8 Cash 2,000 8 Cash 5,000
28.1.201
8 Cash 2,000
31.1.201
8 Balance c/d 1,000

5,000 5,000
1.2.2018 Balance b/d 1,000
 Sales
Date RM Date RM
31.1.201
8 Balance c/d 5,500 5.1.2018 Cash 1,000
Cash 1,500
7.1.2018 MD Sdn Bhd 3,000

5,500 5,500
1.2.2018 Balance b/d 5,500

MD Sdn Bhd (Debtor)

Date RM Date RM
30.1.201
2.1.2018 Sales 3,000 8 Cash 1,500
31.1.201 Provision Doubtful
8 Debt 150
Balance c/d 1,350

3,000 3,000
1.2.2018 balance b/d 1,350

Other Income
Date RM Date RM
31.1.201 30.1.201
8 Balance c/d 150 8 Cash 150

150 150
1.2.2018 Balance b/d 150

Utility Expenses
Date RM Date RM
30.1.201 31.1.201
8 Bank 1,500 8 Balance c/d 2,250
31.1.201
8 Accrual utility expenses 750

2,250 2,250
1.2.2018 Balance b/d 2,250
 Salary
Date RM Date RM
30.1.201 31.1.201
8 Bank 1,100 8 Balance c/d 1,100

1,100 1,100
1.2.2018 Balance b/d 1,100

Staff Commission
Date RM Date RM
31.1.201 Accrual staff 31.1.201
8 commission 400 8 Balance c/d 400

400 400
1.2.2018 Balance b/d 400

Accrual Staff Commission

Date RM Date RM
31.1.201 31.1.201
8 Balance c/d 400 8 Staff commision 400

400 400
1.2.2018 Balance b/d 400

Accrual Utility Expenses

Date RM Date RM
31.1.201 31.1.201
8 Balance c/d 750 8 Utility expenses 750

750 750
1.2.2018 Balance b/d 750

Depreciation Equipment
Date RM Date RM
31.1.201 31.1.201
8 Equipment 100 8 Balance c/d 100

100 100
1.2.2018 Balance b/d 100
 Depreciation Computer
Date RM Date RM
31.1.201 31.1.201
8 Computer 60 8 Balance c/d 60

60 60
1.2.2018 Balance b/d 60

Provision Doubt Debt

Date RM Date RM
31.1.201 31.1.201
8 MD Sdn Bhd 150 8 balance c/d 150

150 150
1.2.2018 balance b/d 150
 TRAIL BALANCE FOR FATEEH

Trail Balance at 31 January 2018

Dt (RM) Cr (RM)
Bank 28,400
Capital 70,000
Vehicle 20,000
Rental 1,000
Renovation 2,000
Insurance 1,000
Equipment 9,900
Computer 2,940
Purchase 14,000
Koperasi Bmo (creditor) 12,000
Cash 3,150
Office sundry expenses 2,000
Other creditor (owing to director) 1,000
Sales 5,500
MD Sdn Bhd (debtor) 1,350
Other income 150
Utility expenses 2,250
Salary 1,100
Staff commission 400
Accrual staff commission 400
Accrual Utility expenses 750
Depreciation equipment 100
Depreciation computer 60
Provision doubtful debt 150

89,800 89800